Gold ETF Still Breaking Records After Capping Best Year Ever

Gold prices broke another record today, with investors flocking to the safe-haven asset after President Donald Trump threatened to impose tariffs on countries that oppose the sale of Greenland. The yellow metal is still front and center, as the European Union (EU) responded with the termination of a trade deal with the U.S. Amid recent developments, now is the ideal time to to check in with exchange-traded fund (ETF) SPDR Gold Trust (GLD).

GLD is seeing unusual options activity today, with 1.55 million calls and 397,000 puts traded so far, which is triple the volume typically seen at this point. The most popular contract is the weekly 1/30 455-strike call, where new positions are currently being opened.

Options traders already leaned firmly bullish, per the equity's 50-day put/call volume ratio of 1.57 over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks higher than 98% of readings from the last year. 

It's also worth nothing that GLD's Schaeffer's Volatility Scorecard (SVS) sits at 73 out of 100, indicating it has tended to exceed option traders' volatility expectations during the past 12 months.

Shares earlier hit an all-time high of $448, and are now eyeing their sixth consecutive weekly gain in seven, amid ascending support at the 20-day moving average. The ETF already sports a 12.5% lead for 2026, after closing 2025 with its third-straight yearly win and best yearly percentage gain on record.